Pretty thorough analysis Joewolf, cheers! In regards to point 4 you made, the 5.9m finance costs appear to be ongoing lease payments/interest expenses. Without a breakdown it's hard to know, it seems the change of accounting methods have "had a material affect" in regards to AASB16. Which leads me to the extra 8m in depreciation, is the 3.7m also a one off?
There does appear to be a few extra costs factored into the report, 1m for share issues, the software and contract termination. I'm also wondering about the total vendor payables, did we pay 9.67m on the positive EBITDA increase in 18/19 or is that a future payment... which is part of the purchase agreements that will continue until 2021... as long as the recent acquisitions for the group perform well!
PGC Price at posting:
40.0¢ Sentiment: Hold Disclosure: Held
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